UPI पर MDR लगाने के फैसले के पीछे US का दबाव? सरकार की सफाई आ गई!

UPI will introduce a 0.4% Merchant Discount Rate (MDR) on select merchant transactions above ₹2,000 from October 15, 2026. This could create a new revenue pool running into thousands of crores. But who will earn from it? With PhonePe and Google Pay handling a major share of UPI transactions, questions are being raised about the potential benefit for foreign-owned companies. PhonePe is backed by Walmart, while Google Pay is owned by Alphabet. This explainer breaks down how MDR works, who could receive the revenue, why market share does not equal revenue share, and what the available data tells us about the potential earnings of banks, payment providers and UPI apps. The copyright ownership in the video rests with India Today Group. No third party is permitted to use the video without obtaining the permission of India Today Group. Any permission for usage can be obtained through the email ID provided here: mail@lallantop.com. न्यूज़ लेटर के लिए क्लिक करें : https://www.thelallantop.com/newsletter खबरों को विस्तार से पढ़ने के लिए क्लिक करें यहां : https://www.thelallantop.com/ Follow us on Facebook:   / thelallantop   Follow us on X: https://x.com/TheLallantop Follow us on Instagram:   / thelallantop   Video Editor: Maneesh Negi